Align Technology (NASDAQ:ALGN) Price Target Raised to $185.00

Align Technology (NASDAQ:ALGNFree Report) had its target price upped by Jefferies Financial Group from $155.00 to $185.00 in a research report released on Thursday morning,MarketScreener reports. The firm currently has a hold rating on the medical equipment provider’s stock.

Several other research firms have also commented on ALGN. Evercore upped their price objective on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays began coverage on shares of Align Technology in a research note on Monday, December 8th. They issued an “equal weight” rating and a $170.00 target price for the company. Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Stifel Nicolaus upped their price objective on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $195.92.

Read Our Latest Report on ALGN

Align Technology Stock Performance

NASDAQ:ALGN opened at $187.60 on Thursday. The firm’s fifty day moving average is $163.26 and its two-hundred day moving average is $148.45. The firm has a market cap of $13.46 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.10 and a beta of 1.84. Align Technology has a one year low of $122.00 and a one year high of $224.18.

Align Technology (NASDAQ:ALGNGet Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Align Technology will post 7.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Align Technology by 147.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,871 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 1,115 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Align Technology during the fourth quarter worth approximately $82,626,000. Evoke Wealth LLC acquired a new position in Align Technology in the 4th quarter valued at $235,000. Global Retirement Partners LLC lifted its holdings in Align Technology by 101.8% in the 4th quarter. Global Retirement Partners LLC now owns 230 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Align Technology during the 4th quarter worth $1,441,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

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About Align Technology

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Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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